There is an epic shakeout coming this year before the giga-spike.

[Yakamoto]

There's definitely a dump occurring. Not surprising in my opinion, but it is always somewhat disheartening to see.

So what you're saying is there is this shakeout where a lot of people will sell before a massive swing back upwards? That's what I'm assuming based on the charts you show and you initial post.

[Denker]

Two weeks ago we already had been down to 540s!!
So this dump isn't that much impressive imo.
Sure a few guys will sh** their pants now and panicking.
However what goes down will move back up again!

[Karartma1]

The stock market is for kids, bitcoin is for hard rockers: with this price movement only people with good nerves and a strong heart could handle this trading.

Interesting times ahead: I still hope for the moon soon

[kobilica]

More dumps today.  $620 breached. 
 

I took nap today, woke up in epileptic like attack and then looked at this chart 

Looks like my brain can sense dump whales will 

[ProfessionalBitsurgeon]

More dumps today.  $620 breached. 
 
https://i.imgur.com/XTTuibW.jpg

Flying horse knows his stuff. Can confirm, is happening.

[zimmah]

well it's pretty obvious it's happening right now.

great time to hold or buy. Depending on if you have any spare fiat laying around.

If you sell now, you're a weak hand, and bitcoin is not for you.

[meh32123]

It will go lower!!!

Sell now and buy moar later!

[crairezx20]

The stock market is for kids, bitcoin is for hard rockers: with this price movement only people with good nerves and a strong heart could handle this trading.

Interesting times ahead: I still hope for the moon soon

Yeah very hard to predict the price right now many people are still waiting what will happen after block halving if the price will still increase more or not..
The price spikes right now is weird instead of increasing its gradually decreases..

[ProfessionalBitsurgeon]

well it's pretty obvious it's happening right now.

great time to hold or buy. Depending on if you have any spare fiat laying around.

If you sell now, you're a weak hand, and bitcoin is not for you.

Give Peggy his due, he did call it.
Buying now is absurd, there is no bottom.

[kobilica]

I had gut feeling yesterday that it will drop hard. But I didn't sell because "hold for dear life".

Wild drops indeed.

[Yakamoto]

well it's pretty obvious it's happening right now.

great time to hold or buy. Depending on if you have any spare fiat laying around.

If you sell now, you're a weak hand, and bitcoin is not for you.

Give Peggy his due, he did call it.
Buying now is absurd, there is no bottom.

It looks like Bitcoin might be stopping around $619/$620 now, so there might finally be a bottom. Maybe it'll slip a bit lower, but the market is seemingly showing enough support around low high teens/low twenties that it shouldn't slip too much from here.

I could be wrong, but it seems like everything is fairly steady for now.

[ProfessionalBitsurgeon]

I could be wrong, but it seems like everything is fairly steady for now.

Looks exactly like it did after the first leg - straight-down drop, slight overshoot and ringing correction.

[helloeverybody]

I hope the mega shakeout is still to come.  If price drops im more than confident it will rise back up and beyond again and it will allow me to pick up more bitcoin for my money.  Probably won't even be a shakeout now.

[CryptoBjorn]

I hope the mega shakeout is still to come.  If price drops im more than confident it will rise back up and beyond again and it will allow me to pick up more bitcoin for my money.  Probably won't even be a shakeout now.

The price drop was to be expected. I am holding like  planned to do. But I am confident many of us will choose to sell which is the same as panic selling.
Just remember if not this year then next year the price can and will go higher.

[ProfessionalBitsurgeon]

I hope the mega shakeout is still to come.  If price drops im more than confident it will rise back up and beyond again and it will allow me to pick up more bitcoin for my money.  Probably won't even be a shakeout now.

The price drop was to be expected. I am holding like  planned to do. But I am confident many of us will choose to sell which is the same as panic selling.
Just remember if not this year then next year the price can and will go higher.

For giggles, look at BTC-e.

[talkingleaves]

I had gut feeling yesterday that it will drop hard. But I didn't sell because "hold for dear life".

Wild drops indeed.

me too. seriously kicking myself today for not trusting the gut.

[Nxtblg]

The drop surprised me, but it's close to the halving now. Prolly the "sell on the news" effect. Can't change the fact that Bitcoin's on a solid bull run.

[kobilica]

I hope the mega shakeout is still to come.  If price drops im more than confident it will rise back up and beyond again and it will allow me to pick up more bitcoin for my money.  Probably won't even be a shakeout now.

The price drop was to be expected. I am holding like  planned to do. But I am confident many of us will choose to sell which is the same as panic selling.
Just remember if not this year then next year the price can and will go higher.

For giggles, look at BTC-e.

BTC-e is quite lagging from those two 20€ drops (and one rise).

[spazzdla]

The shakeout has begun.  This will not be pretty.

[freshman777]

This will not be pretty.

Especially when the shakeout comes but the giga-spike doesn't.